Importance of Economics in school curriculum and life

'Arthashastra' of Kautilya was used during 'Gurukul' system. Then the Morality in economics was stressed more. In present context, economics today may be considered as the boon of British rule in India which brought the subject of economics to Indian school education. Today the growth is seen by quantity of consumption, where items are used & thrown fast. Economics has become the centre of various activities. Each and every subject is viewed from its economical angle because one always likes subjects which fetch more money in one's future life. Economics has both practical and economic value. It occupies an important position in Education and curriculum and has become an integral part of education system.

The following are the reasons as to why economics is an important subject in school curriculum.

1. Helpful in teaching economic problem: Every individual at a point of time suffers complex problems relating to money which has a bearing on the economic aspect of life. Here problems are solved through study of economics as it deals with production, consumption and distribution of wealth. In short economics deals with the various activities concerning our practical life and occupies a significant place in education. e.g. Home budget planning to locate cost reduction.

2. Means of livelihood: In economics, one studies various activities concerning various vocation and occupation. After studying this, the basic knowledge helps one to adjust with the environment and earn his livelihood. One also learns to spend his income in order to fulfill his needs to the maximum extent. e.g. Earning to have basic need and then pursue hobby. Self development as in Gurukul way helps to be Selfless and more social.

3. Helpful to enrich practical knowledge: Study of economics develops a person to have practical outlook in life and solve his economic problems as one develops insight through which he deals with these problems. e.g. Saving money in Piggy bank should include a part of it for needy student.

4. Enrichment of knowledge: Students knowledge is enriched through study of economics. One gets to know various types of people, different types of land, various plans of country, its merits and demerits which brings betterment in various economic fields. For this, Statistic is used as part of economics. e.g. Particular soil can be reused throughout the year for various crops, construction of Dam.

5. Knowledge of other countries: A study of economics helps in acquiring knowledge of his country as well as other countries of the world. For example, foreign trade, foreign exchange etc. determine the way of living, behaviour pattern, progress and downfall of cultures, civilization, religion etc.

6. Help to bring about practical activity: Once a student acquires knowledge of economics, he becomes competent and takes up an economic activity which raises his confidence and makes his life happy and peaceful. e.g. Saving for the future through various schemes.

7. Help for maintaining democratic setup: If each and every citizen discharges their duties sincerely, honestly and successfully the nation becomes more successful. Study of economics can help one to easily determine and inculcate the feeling of patriotism and national consciousness where on keeps nations interest in their mind. Economics in school should include donation for various calamity of the Nation e.g. Farmers committing suicide due to drought.

8. Help to Develop Liberal Economic Attitude: Student develop a liberal and broad economic outlook through knowledge of economics, where he critically examines statistics issued by government agencies and acquires knowledge about price, production, consumption etc. of goods produced all over the world. Self development as in Gurukul, before a projects helps it to last longer.

9. International Outlook: Study of economics help student to know about international trade where no country can be free from the influence of other countries and hence develop international outlook.

10. Capabilities of Using Natural Resources Properly: Knowledge of economics enables one to make the best possible use of available natural resources in order to achieve economic development. e.g. Minimum use of Water, Wood, Fuel, Energy, etc. for our future needs to avoid global warming.

11. Material Well Being: In today's scientific & technological age of development, material development of a nation is possible only through gainful employment of available resource. For proper utilisation of resources one needs to have proper scientific outlook and proper way of living which helps to achieve material well being of oneself and his country. e.g. Avoid using plastic bags and propagate recycling.

12. Economic Interdependence: In today's world each country has to depend upon other for their economic wellbeing. Thus the knowledge of economics helps one to acquire understanding of above things and make use of it fully. For example of labour and technology.

-Child is The Father of Man-

Thus we can conclude that economics occupies an important place in school curriculum and life.

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Comments on this article: (3 comments so far)

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Thanks.. for your reply and your blessings.

Erin

2009-10-28

Importance of Economics in school curriculum and lDear Erin,
Thanks for views and GOD bless.
I will be writing soon on Stages of economic development in a Child.

Jashodhara Purkayastha

2009-10-27

Good WorkYou have explained the importance and relationship of economics and education extremely well. I am a teacher too, and I wish I had online writing skills like you.

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